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Bankruptcies of the 80s

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    #81
    [QUOTE=Richard5;472207]
    Originally posted by LEP View Post
    Set a corporation up in your wife’s name and double the small business limit. Deferring is bad business.

    Lep - I had asked this question to my accountant once when planning structure for son.

    Many people have husband and wife as shareholders of first company already. Creating a company n spouse's name would be very risky even if you one spouse transferred everything to the other as they are closely related. If your sole reason is lower tax, nothing flies anymore
    I agree,. But it can be done. Just make sure you document. It is perfectly legal.

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